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Irresponsible lending letters
WhoIsJusticeBeaver
Posts: 50 Forumite
Just in process of starting self managed DMP - but from advice here, letting all accounts default first before contacting and setting up an agreement for payment.
I feel I have grounds for some lenders for irresponsible lending. When should I start sending those letters? Given the fact that I am essentially going AWOL them for the next 6 months or until they default, do I send them now or wait? If I wait and the account is defaulted then the account will probably be closed and passed on to DCA so I'm just confused as to what to do.
I feel I have grounds for some lenders for irresponsible lending. When should I start sending those letters? Given the fact that I am essentially going AWOL them for the next 6 months or until they default, do I send them now or wait? If I wait and the account is defaulted then the account will probably be closed and passed on to DCA so I'm just confused as to what to do.
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Comments
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There should be no confusion, do it now.
Making an affordability complaint and withholding payment in order to obtain defaults are two entirely separate issues.
One has no bearing on the other.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Yes, plenty of resources on Debt Camel, and this is not a quick process. You may as well start now0
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They will probably all reject you to start with but be persistent and escalate them to the FOS and then to an ombudsman if the FOS adjudicator finds against you. Nationwide rejected my complaint but I kept pushing and escalating it, and aftet two years I got a £16,000 interest refund from them.
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Great, thanks all for advice.0
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Sorry, another quick question, I had a loan with NW which finished back in 2021. It was linked to a current account which is now closed but I can definitely get the details of the current account. Can I still contact them? They let me borrow twice (borrow more) and my income was very low at the time.0
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Full reclaiming guide is here -WhoIsJusticeBeaver said:Sorry, another quick question, I had a loan with NW which finished back in 2021. It was linked to a current account which is now closed but I can definitely get the details of the current account. Can I still contact them? They let me borrow twice (borrow more) and my income was very low at the time.
Affordability refunds from large loans including car finance · Debt Camel
I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
A really useful template @sourcrates thanks!0
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